| Brooklyn, NY
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- LoopNet Team
Portfolio For Sale
Brooklyn, NY
Multifamily Property For Sale
·
8 Units
Investment Highlights
- Short-Term Upside: Several units are rented below market, offering near-immediate 7-10% upside upon next lease renewal.
- 80% Free Market: 26 of the 33 units are free market, with remaining 7 units subject rent stabilization due to a J-51 abatement.
- Tax Protected: All properties are tax class 2A or 2B, limiting real estate tax increases to a max of 8% per year and 30% over five years.
- Turn-Key Cashflow: Two of the buildings are recent ground-up construction (2016-2017) and three newly gut renovated.
- Path To 100% Free Market: Units at 228 Manhattan Ave stabilized under J-51 abatement can be destabilized upon expiration/turnover
- Transit Oriented: All five are within 3-4 blocks of major subway lines with direct access throughout Manhattan, Brooklyn & Queens.
Property Facts
| No. Units | 8 | Property Type | Multifamily |
| No. Units | 8 |
| Property Type | Multifamily |
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